To be honest, to determine whether an exchange has long-term ambitions for growth, it also depends on how much effort it has put into compliance Gate US has obtained 37 state level compliance licenses this time, covering 47 states and regions in the United States Looking at Gate's global layout again: Europe obtains MiCA and PI licenses, Japan conducts business under FSA licensing supervision, Dubai obtains VARA license, Australia completes AUSTRAC registration In addition, markets such as Malta and the Bahamas are also included in their compliance layout There is a logic worth pondering here: as an exchange, traffic determines the growth rate, but compliance ability determines how far the business can go Especially in markets with strict regulatory requirements such as the United States, Europe, and Japan, it is not enough to just invest money and attract users to do business Bull markets compete for growth, bear markets compete for survival. Whether we can stay on the table for the long term depends on compliance